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Decentralized Finance (DeFi)
Decentralized Finance (DeFi) refers to a financial system built on blockchain technology that operates without intermediaries such as banks, brokerages, or exchanges. Instead, DeFi relies on smart contracts, which are self-executing agreements with terms written into code, allowing users to engage in various financial activities directly with one another. Key Features of DeFi: Example of…
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Is each project on cardano a separate company?
No, not every project on Cardano is a separate company. Projects on Cardano can take various forms, including: While some of the larger and more structured projects may be run by established companies, many are not separate legal entities but rather decentralized efforts or collaborations within the Cardano ecosystem.
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What are the types of forks in blockchain technology?
In blockchain technology, a fork refers to a change in the protocol or the software governing the blockchain, creating a divergence in the chain. Forks can happen either intentionally to upgrade the network or unintentionally due to competing versions of the blockchain. The main types of forks are: 1. Hard Fork A hard fork is…
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Mempool
A mempool (short for memory pool) is a temporary storage area where pending transactions are held before they are included in a block and confirmed on the blockchain. When a user initiates a transaction, it is broadcast to the network and first goes into the mempool of participating nodes. Here’s how a mempool works: In…
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In blockchain, each block has a header and a body. Generally speaking, what’s part of the header?
In a blockchain, the header of each block contains metadata that provides essential information about the block and its relationship to the rest of the blockchain. Typically, the header includes the following key components: These elements are crucial for the security, consistency, and functionality of the blockchain, ensuring that each block is linked to its…
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How many projects are on Cardano?
As of 2024, there are over 1,500 projects being developed or deployed on the Cardano blockchain. These projects span various sectors, including: This rapid growth has been driven by the network’s upgrades, including the Alonzo hard fork in 2021, which introduced smart contract functionality, and subsequent developments in the ecosystem. Cardano’s focus on research-driven, peer-reviewed…
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Charles Hoskinson
Charles Hoskinson is a prominent figure in the world of blockchain and cryptocurrency, best known as the co-founder of Ethereum and the founder of Cardano, a third-generation blockchain platform. Born in 1987, Hoskinson grew up with a keen interest in mathematics and technology, which led him to pursue studies in analytic number theory at the…
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What’s the Benefit of Using Daedalus vs. a Third-Party Exchange (like Coinbase)?
When it comes to managing your ADA on the Cardano blockchain, you have a variety of options. You can either use a dedicated full-node wallet like Daedalus, or you can opt for third-party exchanges like Coinbase to store and manage your cryptocurrency. While both methods serve the same purpose—managing your ADA—there are key differences in…
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Daedalus (Cardano)
Daedalus is a full-node desktop wallet for the Cardano blockchain, developed by IOHK (Input Output Hong Kong), one of the key organizations behind Cardano. It offers a secure, feature-rich way for users to interact with the Cardano blockchain and manage their ADA (Cardano’s native cryptocurrency). Key features of Daedalus include: As a full-node wallet, Daedalus…
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The Cardano Node
The Cardano Node (not to be confused with “Cardano nodes“–the Cardano blockchain is powered by a flock of inter-connected nodes) is a core software component in the Cardano blockchain ecosystem, specifically the official implementation that powers the Cardano network. It is written in the Haskell programming language and is responsible for running the Cardano blockchain.…
